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1024 RESOLUTION NO. 1024 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROLLING HILLS, CALIFORNIA, APPROVING A. LETTER OF AGREEMENT BETWEEN THE CITY OF ROLLING HILLS AND THE CITY OF RANCHO PALOS VERDES, REGARDING THE TRANSFER OF COMMUNITY DEVELOPMENT BLOCK GRANT FUNDS (CDBG) FOR THE FISCAL YEARS 2005-06, 2006-07 AND 2007- O8. THE CITY COUNCIL OF THE CITY OF ROLLING HILLS HEREBY RESOLVES AS FOLLOWS: WHEREAS, the City Council of the City of Rolling Hills conducted duly noticed public hearing, pursuant to applicable law, on July 9, 2007, to consider the allocation of CDBG funds for Fiscal Years 2006-08; WHEREAS, the use of CDBG funds is stricdy limited by law; and WHEIZEAS, on April 11, 2005 the City of Rolling Hills executed a three-year Cooperation Agreement with the County of Los Angeles concerning CDBG funds for Fiscal Years 2006-2009; and WHEREAS, the City of Rolling Hills, is a recipient of CDBG funds and desires to transfer $10,684 of its FY 2006-2008 CDBG funds to the City of Rancho Palos Verdes for the purpose of furthering Rancho Palos Verdes's housing rehabilitation programs. NOW, THEREFORE, BE IT RESOLVED by the City of Rolling Hills City Council as follows: Section 1. The attached letter of Agreement between the City of Rolling Hills and the City of Rancho Palos Verdes is hereby approved. Section 2. In accordance with the attached letter of Agreement, the City of Rolling Hills will transfer $10,684 of its FY 2006-08 CDBG funds to the City of Rancho Palos Verdes. Section 3. The City Manager is authorized and directed to execute any and all documents necessary to complete the assignment of funds on behalf of the City of Rolling Hills. Section 4. This resolution shall take effect immediately. Section 5. The City Clerk shall certify to the adoption of this resolution and thenceforth and thereafter the same shall be in full force and effect. APPROVED AND ADOPTED THIS 9th DAY OF JULY 2007. �n..--� JA E LACK M YOR ATTEST: � MARILYN L. RN DEPUTY CITY CLERK Resolution No. 1024 -11 STATE OF CALIFORNIA ) COUNTY OF LOS ANGELES ) �� CITY OF ROLLING HILLS ) I certify that the foregoing Resolution No. 1024 entitled: A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ROLLING HILLS, CALIFORNIA, APPROVING A LETTER OF AGREEMENT BETWEEN THE CITY OF ROLLING HILLS AND THE CITY OF RANCHO PALOS VERDES, REGARDING THE TRANSFER OF COMMUNITY DEVELOPMENT BLOCK GRANT FUNDS (CDBG) FOR THE FISCAL YEARS 2005-06, 2006-07 AND 2007- 08. was approved and adopted at a regular meeting of the City Council on July 9, 2007 by the following roll call vote: AYES: Councilmembers Heinsheimer, Lay, Pernell , Mayor Pro Tem Hill and Mayor .Black. NOES: None . ABSENT: None . ABSTAIN: No n e . and in compliance with the laws of California was posted at the following: Administrative Offices DEPU CITY CLERK Resolution No. 1024 -21